Need a small loan? There’s an interesting business that just cropped up called “Prosper” which proposes to allow the general public to deposit money in an account and then make it available for small loans… sort of like a bank, but with a lot more input from the people who’ve deposited the funds. The whole thing functions sort of like eBay, but people can band together in groups, and can also offer only partial funding for a loan if they don’t feel like funding the whole amount. Potentially, this kind of operation could result in lower interest loans for people in need, provided they can present their idea effectively to the lending-side of the Prosper communitey. Pretty cool! www.prosper.com
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